Bank of England

After admitting the MPC has lost control of inflation, Alan Wilde, head of fixed income and currency at Barings, asks if the Bank of England governor is losing his credibility.

The Bank of England's Monetary Policy Committee (MPC) has remained split three ways on interest rates, minutes of its latest meeting show.

Looking at last week's inflation report, it seems the Bank of England is reasonably content with the current state of play.

Sterling jumped across the board after the Bank of England's latest report said inflation is likely to remain above target for longer, fuelling expectations the MPC will act sooner to tackle price rises.

The UK could fall back into recession at the end of this year, as high oil prices and the impact of the Japan earthquake weigh on global economic growth, said Fidelity's Trevor Greetham.

Speculation the Bank of England will lower its economic growth forecasts has caused the pound to slump in afternoon trading.

Mervyn King's argument for keeping interest rates at a record low 0.5% has received a boost from the latest construction data showing economic growth is not yet strong enough.

The Bank of England will not hike interest rates until 2013 as the economic recovery remains "pretty weak," former treasury adviser Roger Bootle has said, a day after Bank governor Mervyn King dismissed an early rise due to the "sheer volume of debt in...

COALITION ONE YEAR ON

Chancellor George Osborne said he believes the UK economy is "roughly in the right place" ahead of the publication of Q1 GDP figures this morning, as economists predict growth will come in below forecasts.